"By developing a deeper understanding of this demographic’s business model, we can provide future support for new loan applications"
Shawbrook has announced an appetite to lend to repeat borrowers by implementing a 'loan exposure ceiling' which is reviewed as the relationship with the customer grows over time.
Its new 'Customer Appetite Statement' outlines that while these are "not committed funds in the traditional sense", it will provide further support for new loan applications.
Shawbrook says the new process will be "even more efficient" and, as it specialises in the portfolio space, the initiative will support the funding requirements of the same customer across multiple transactions.
Shawbrook will also continue to offer its existing customer discount of 0.25% off the margin or arrangement fee.
Emma Cox, sales director at Shawbrook Commercial Mortgages, said: “This has been something we have been working on for some time and feels like a logical evolution of the way in which we view repeat customers. We have confidence in the way these customers do business, confidence in our broker partners and their expertise, and ultimate belief in our teams to support property professionals in this way.”
Daryl Norkett, head of products and markets, added: “This is an exciting initiative for us and by developing a deeper understanding of this demographic’s business model, we can provide future support for new loan applications, supporting their property strategy and funding requirements. In turn, this will open opportunities for our Broker Partners to support these customers through a longer customer journey with Shawbrook, and we are proud to facilitate this.”